Investment Management Corp of Ontario Has $7.19 Million Position in BlackRock, Inc. (NYSE:BLK)

Investment Management Corp of Ontario boosted its stake in BlackRock, Inc. (NYSE:BLK) by 40.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,014 shares of the asset manager’s stock after purchasing an additional 2,024 shares during the period. Investment Management Corp of Ontario’s holdings in BlackRock were worth $7,190,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Investor s Fiduciary Advisor Network LLC bought a new stake in BlackRock in the fourth quarter worth approximately $800,000. Janus Henderson Group PLC increased its position in shares of BlackRock by 17.2% during the 4th quarter. Janus Henderson Group PLC now owns 27,841 shares of the asset manager’s stock valued at $28,561,000 after purchasing an additional 4,079 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in BlackRock in the fourth quarter valued at about $216,000. Guardian Wealth Advisors LLC NC grew its holdings in BlackRock by 4.0% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 892 shares of the asset manager’s stock valued at $914,000 after purchasing an additional 34 shares during the period. Finally, Ellevest Inc. boosted its position in BlackRock by 5.2% during the fourth quarter. Ellevest Inc. now owns 383 shares of the asset manager’s stock worth $393,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 430 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the sale, the director now owns 3,720 shares in the company, valued at approximately $3,531,656.40. This represents a 10.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 12,430 shares of company stock worth $11,237,249 in the last three months. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Down 0.6 %

NYSE BLK opened at $923.48 on Friday. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22. The stock has a market capitalization of $143.37 billion, a PE ratio of 21.99, a PEG ratio of 1.90 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The business’s 50-day moving average is $913.01 and its 200 day moving average is $978.44.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the firm earned $9.81 earnings per share. BlackRock’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on BLK shares. Barclays raised their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company dropped their price target on BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. TD Cowen reduced their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup reduced their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,077.08.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.